From mint · Harsh Kumar · · 1m 20s
LIC Housing Finance recovers ₹553 crore from retail portfolio
LIC HFL recovers ₹553 crore from retail loans in Q2, targets 14-15% disbursement growth.
In brief
LIC HFL recovers ₹553 crore from retail loans in Q2, targets 14-15% disbursement growth. LIC Housing Finance recovered ₹553 crore from retail loans in Q2, aiming for 14-15% growth in disbursements by FY27. Originally reported by mint.
Q2 recovery success
LIC Housing Finance recovered ₹553 crore from retail portfolio in Q2, with ₹84 crore from written-off accounts.
GNPA ratio targets
LIC HFL aims to reduce GNPA ratio to 1.9% by FY27, down from 2.05% as of Q2.
Disbursement growth target
LIC HFL targets ₹73,000-75,000 crore disbursements by FY27, 14-15% annual growth.
Project loan surge
Project loan disbursements grew 149% YoY, targeting ₹4,000 crore for FY27.
Portfolio diversification
LIC HFL explores lease rental discounting and loans against property to boost yields.
Subhash Chandra exposure
LIC HFL has ₹1,322.39 crore exposure to Subhash Chandra's Essel Group-linked companies.
CBI case against Chandra
LIC HFL filed CBI complaint against Subhash Chandra over alleged fraud in 2018 loans.
Loan recovery strategy
LIC HFL approaches borrowers before loan transfers to other lenders for growth.
Lending rate increase
LIC HFL raised lending rates by 25 basis points to 7.40% for prime customers.
The key point
LIC Housing Finance recovered ₹553 crore from retail loans in Q2, aiming for 14-15% growth in disbursements by FY27.
